Canadian Imperial Bank of Commerce Increases Gibson Energy (TSE:GEI) Price Target to C$34.00

Gibson Energy (TSE:GEI) had its price objective lifted by Canadian Imperial Bank of Commerce from C$33.00 to C$34.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective points to a potential upside of 4.07% from the company’s current price.

Several other brokerages also recently weighed in on GEI. BMO Capital Markets upped their price objective on Gibson Energy from C$29.00 to C$32.00 in a research report on Tuesday. Jefferies Financial Group cut shares of Gibson Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. National Bank Financial lifted their price target on shares of Gibson Energy from C$30.00 to C$33.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Scotiabank increased their price objective on shares of Gibson Energy from C$29.00 to C$31.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Finally, TD Securities upgraded shares of Gibson Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Gibson Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.27.

Gibson Energy Price Performance

Shares of TSE GEI traded up C$0.56 during trading hours on Wednesday, hitting C$32.67. 399,352 shares of the stock were exchanged, compared to its average volume of 807,400. The company has a debt-to-equity ratio of 294.95, a quick ratio of 0.87 and a current ratio of 1.07. The company has a market cap of C$5.63 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 1.85 and a beta of 0.11. The company’s fifty day simple moving average is C$29.67 and its two-hundred day simple moving average is C$28.75. Gibson Energy has a 1-year low of C$22.09 and a 1-year high of C$32.99.

Gibson Energy (TSE:GEI) last announced its quarterly earnings data on Monday, July 27th. The company reported C$0.48 EPS for the quarter. Gibson Energy had a net margin of 1.32% and a return on equity of 18.23%. The business had revenue of C$4.83 billion during the quarter.

About Gibson Energy

Gibson is a leading liquids Infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products, as well as waterborne vessel loading. Headquartered in Calgary, Alberta, the Company’s operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan. Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange.